This Content Is Only For Subscribers
Development West Coast has released its Annual Report for the year ended March 31, 2025, highlighting major investments in regional strategic assets, the minerals sector, housing, and business growth.
Since its establishment in 2001 with an initial $92 million fund, DWC has directly invested $208.2 million into the West Coast economy while maintaining the fund’s value at $149 million.
Chair Renee Rooney says DWC has delivered real outcomes for our communities while preserving the fund’s strength for future generations.
“That momentum continued in 2024-25, with DWC focused on leveraging the fund to unlock opportunities, drive job creation, and support long-term regional development.”
Renee says a key highlight was DWC’s commitment of up to $10 million to enable the redevelopment of Westport and Greymouth ports and upgrades at Hokitika Airport. This investment, in turn, will unlock $15.3 million in government co-funding through the Regional Infrastructure Fund, helping drive growth across the West Coast.
Another significant investment this financial year was an AU$3 million equity stake in Federation Mining’s Snowy River Gold Project. The mine currently employs more than 80 staff and 25 contractors and is expected to create hundreds more jobs as it reaches full production.
Chief executive Heath Milne says to help house the growing workforce demand created by major projects, including the resurgence of the minerals sector, DWC supported residential developments in Reefton and Kaiata, enabling 25 new homes this year.
Construction is also well under way on the Greymouth library and commercial hub, a joint project between Grey District Council, DWC, and Kānoa aimed at revitalising the heart of Greymouth. DWC has committed $4.2 million to the project, including the contribution of the freehold land for the building site.
Over 2024/25, DWC approved $7.88 million in commercial finance and $4 million in community distributions and regional development projects. This included DWC’s annual $200,000 contribution to the West Coast Community Trust, which supported 23 community projects.
During the year, DWC worked one-on-one with 263 businesses, helped attract $18.6 million in external funding for the Coast, and supported the next generation of local talent with five tertiary scholarships valued up to $32,500 each.
Despite global market volatility, DWC’s investment portfolio returned 6.47 per cent, outperforming the market peer group average and growing by $7.64 million. Over the past five years, the portfolio has delivered a return of 46.3 per cent, outperforming both its benchmark and comparable funds.
DWC’s annual stakeholder survey saw its Net Promoter Score rise to +34, the highest result since the survey began in 2020 and the fifth consecutive year of improvement.
Heath says these results reflect the strength and dedication of the organisation’s people.
“Across the board, the DWC team continues to deliver high-quality, high-impact work. It is a privilege to lead such a capable and dedicated group of people who consistently punch above their weight.”
He also paid tribute to Chair Renee Rooney, who is stepping down in October after nine years as Grey District Trustee and eight as Chair.
“Renee has given an extraordinary amount of time and energy to DWC, bringing professionalism, governance expertise, and a steady hand to the Board. She’s built strong relationships across the region and has shown deep knowledge of the West Coast and a genuine passion for its future.”
Reflecting on her time as Chair, Renee says DWC has grown into a more focused and resilient organisation.
“I’ve been fortunate to work alongside many dedicated and passionate people. The Trustees, staff, and wider regional partners have all contributed to what we’ve been able to achieve. I have appreciated working with the local Mayors, Council Chair, and Iwi. Everyone understands the importance of working together to get good outcomes for the West Coast.”
